China’s Zhongliang buys back $6.2 million more 11˝% notes due 2021

By Marisa Wong

Los Angeles, Aug. 24 – Zhongliang Holdings Group Co. Ltd. made a further repurchase of its 11˝% senior notes due September 2021, according to a company announcement.

The company repurchased $6.2 million of the notes in the open market on Aug. 23, representing about 1.55% of the aggregate principal amount of the notes originally issued.

Including the latest buyback, the company has repurchased a total of $76 million of the notes, or roughly 19% of the original amount.

Subject to the discretion of the company’s board, the repurchased notes may or may not be canceled.

Zhongliang is a residential property management company based in Shanghai.

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